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he is supposed to be very influential and a part of the daily negotiations on this fiscal cliff deal, although he is hiding from the press, which is an interesting game. as he kind of emerges, we know that marco rubio is running. he has already been to iowa. they both have these roles. what will a fiscal cliff deal -- will paul ryan get blamed if he does, and marco rubio can he turn the party around with some push for immigration reform? risky with the base. >> it also is interesting in these kind of years where the republicans have now suffered a loss. clearly mitt romney is not going to be the party leader. they don't actually have one, and you watch the wilderness lap for a while. >> you know, candy, i hate to say this because i know we want to play along for 2016, but i think part of the problem in washington is everyone is so focused on the next election it's always an excuse not to get something done. i think the american people think we just went through an election. now please now that you all have jobs, could we actually solve problems and get something done? you know, 2016 w
he is supposed to be very influential and a part of the daily negotiations on this fiscal cliff deal, although he is hiding from the press, which is an interesting game. as he kind of emerges, we know that marco rubio is running. he has already been to iowa. they both have these roles. what will a fiscal cliff deal -- will paul ryan get blamed if he does, and marco rubio can he turn the party around with some push for immigration reform? risky with the base. >> it also is interesting in...
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markets around the world are up today, a sign of confidence that a fiscal cliff deal just might be in the works. we'll see. another positive sign for the economy, the broadest picture we can get of the economy's health, gdp, came in quite a bit better than expected in the third quarter. alison kosik at the new york stock exchange to explain. hi. >> reporter: hey, carol. so between july and september, the economy grew at a 2.7% rate. so that came in much better than second quarter's rate, which was 1.3%. and there's definitely good stuff here. you look deeper in the report, you find out the u.s. exported more than first thought. that's good. because we really need people in other countries to buy our stuff. that helps our economy. home building and strong corporate profits, that also helped our economy. but here's the thing. when you dig deeper in the report, past that headline number of 2.7%, you know, it's not all it's cracked up to be. businesses built up bigger inventories of their products last quarter. that helps the economy now, but the thing is, it means next quarter these busi
markets around the world are up today, a sign of confidence that a fiscal cliff deal just might be in the works. we'll see. another positive sign for the economy, the broadest picture we can get of the economy's health, gdp, came in quite a bit better than expected in the third quarter. alison kosik at the new york stock exchange to explain. hi. >> reporter: hey, carol. so between july and september, the economy grew at a 2.7% rate. so that came in much better than second quarter's rate,...
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cliff negotiations. president obama has said there will be no deal unless taxes are raised on the wealthiest americ americans. but staunch conservatives don't want any kind of new taxes. that's where speaker boehner's job gets really tough. on piers morgan tonight newt gingrich said if all else fails, go over the cliff. >> i think that no deal is better than a bad deal. i think going off this cliff is less dangerous than letting things build up for a year or two years to an even bigger cliff. i think that the president clearly has staked out a position of nonseriousness. and i think that it's very difficult for the house republicans right now to find any practical way to get his attention. so, he just won an election. he is feeling very good about himself. he is posturing brilliantly, putting the republicans in a corner. they need to relax. they don't have an election until november 2014. >> senior congressional correspondent dana bash joins me now. dana, can we expect fire woworkt the meeting this morni
cliff negotiations. president obama has said there will be no deal unless taxes are raised on the wealthiest americ americans. but staunch conservatives don't want any kind of new taxes. that's where speaker boehner's job gets really tough. on piers morgan tonight newt gingrich said if all else fails, go over the cliff. >> i think that no deal is better than a bad deal. i think going off this cliff is less dangerous than letting things build up for a year or two years to an even bigger...
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and if they can come to a deal, then i think we can avoid the fiscal cliff. >> and do you think that -- somebody put this idea out here. and this idea is really vile. i'll use the right word. i think you'll agree. here's the idea. let's go off the cliff, just for purely political reasons, nothing happens immediately, and then, you know, you all come back in session in early january, and you give the middle class a tax cut, and you give the wealthy a tax cut, they'll pay more than they're paying now but less than 39.6.% is that possibly what both sides are angling to? >> you use the word vile and i'll echo that word. i think going over the cliff is a disaster. i think social leaders negotiate the best deal they possibly can, and let's try and get this done. i would not be for playing a game of chicken, if you will, or trying to fool the american people who are pretty dadgum smart when it comes to these sorts of things. >> do you fear the right wing of your own party, a wing that says any revenue, as you heard jim demint say, no revenue, not part of the deal. do you think that's going
and if they can come to a deal, then i think we can avoid the fiscal cliff. >> and do you think that -- somebody put this idea out here. and this idea is really vile. i'll use the right word. i think you'll agree. here's the idea. let's go off the cliff, just for purely political reasons, nothing happens immediately, and then, you know, you all come back in session in early january, and you give the middle class a tax cut, and you give the wealthy a tax cut, they'll pay more than they're...
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with the fiscal cliff. brace yourself for a job number that could be even lower than the already weak forecast. i hope i am wrong about that. from the cnn money newsroom in new york, i'm ali velshi. that's it from me. same time tomorrow. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i switched to progressive. the better i drive, the more i save. i wish our company had something this cool. you're not filming this, are you? aw! camera shy. snapshot from progressive. test-drive snapshot before you switch. visit progressive.com today. plays a key role throughout our lives. one a day men's 50+ is a complete multivitamin designed for men's health concerns as we age. it has 7 antioxidants to support cell health. one a day men's 50+. it has 7 antioxidants to support cell health. social security are just numbers thinkin a budget.d... well, we worked hard for those benefits. we earned them. and if washington tries to cram decisions about th
with the fiscal cliff. brace yourself for a job number that could be even lower than the already weak forecast. i hope i am wrong about that. from the cnn money newsroom in new york, i'm ali velshi. that's it from me. same time tomorrow. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i switched to progressive. the better i drive, the more i save. i wish our company had something this cool. you're not filming this, are...
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the fiscal cliff? >> listen, there's a framework that we presented to the white house two weeks ago. the framework is -- has been agreed to in terms of really a down payment on the end of this year. that would include spending cuts and it would include revenue. setting up a process for entitlement reform next year, and tax reform next year. but this was way out of balance. and not a recognition on the part of the white house about the serious spending problem that we have. [ inaudible question ] going over the fiscal cliff, you called serious business, extending the lower tax rates -- [ inaudible question ] >> i'm going to do everything i can to avoid putting the american economy, the american people through the fiasco of going over the fiscal cliff. >> which is worse for the economy? [ inaudible question ] could you include a debt limit that is in the overall package? >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life, but almost all of them had a price tag a
the fiscal cliff? >> listen, there's a framework that we presented to the white house two weeks ago. the framework is -- has been agreed to in terms of really a down payment on the end of this year. that would include spending cuts and it would include revenue. setting up a process for entitlement reform next year, and tax reform next year. but this was way out of balance. and not a recognition on the part of the white house about the serious spending problem that we have. [ inaudible...
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to avoid that fiscal cliff. can they do it, will they do it. our political panel tackles that next. and with photo stream, you can share all the photos you want, with just the people you want. it's as easy as pie. mmmm .. pie. the distances aren't getting shorter. ♪ the trucks are going farther. the new 2013 ram 1500. ♪ with the best-in-class fuel economy. engineered to move heaven and earth. ♪ guts. glory. ram. ♪ have led to an increase intands clinical depression. drug and alcohol abuse is up. and those dealing with grief don't have access to the professional help they need. when you see these issues, do you want to walk away or step up? with a degree in the field of counseling or psychology from capella university, you'll have the knowledge to make a difference in the lives of others. let's get started at capella.edu >>> good morning and thank you for being with us today. i'm carol costello. it's just about 30 minutes past the hour. time to take a look at our top stories. >>> didn't take long for the
to avoid that fiscal cliff. can they do it, will they do it. our political panel tackles that next. and with photo stream, you can share all the photos you want, with just the people you want. it's as easy as pie. mmmm .. pie. the distances aren't getting shorter. ♪ the trucks are going farther. the new 2013 ram 1500. ♪ with the best-in-class fuel economy. engineered to move heaven and earth. ♪ guts. glory. ram. ♪ have led to an increase intands clinical depression. drug and alcohol...
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avert that fiscal cliff. the obama administration has laid out its plan calling for $1.6 trillion in new taxes. that includes letting the bush era tax cuts expire for those earning more than $250,000 a year. it's also pushing for a new $50 billion stimulus package and offering $400 billion in new cuts to medicare and other entitlement programs. but republican house speaker john boehner flatly rejected the plan on the table and what he calls the white house's unwillingness to compromise. >> i was just flabbergasted. i looked at him, i said, you can't be serious. i've never seen anything like it. you know, we've got seven weeks between election day and the end of the year. and three of those weeks have been wasted with this nonsense. >> you know, i think right now the best thing to do is for them to come to us and say, look, here's what we think makes sense. we've told them what we think makes sense. what we can't do is try to figure out what's going to be good for them. they have to come tell us. >> house mino
avert that fiscal cliff. the obama administration has laid out its plan calling for $1.6 trillion in new taxes. that includes letting the bush era tax cuts expire for those earning more than $250,000 a year. it's also pushing for a new $50 billion stimulus package and offering $400 billion in new cuts to medicare and other entitlement programs. but republican house speaker john boehner flatly rejected the plan on the table and what he calls the white house's unwillingness to compromise....
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. >>> fiscal cliff talks hit a huge road bump. zinger and verbal jabs are flying while actual talks are at a stand still. president barack obama says republicans must agree to preserve a middle class tax cut as the first part of any deal and he likened republicans to scrooge today, while touring a pennsylvania toy factory. >> if congress does nothing, every family in america will see their income taxes automatically go up on january 1st. every family, everybody here, you'll see your taxes go up on january 1st. i mean, i'm assuming that doesn't sound too good to you. that's sort of like the lump of coal you get for christmas. that's a scrooge christmas. >> the president's proposal calls for $1.6 trillion in new tax revenue. $50 billion for new stimulus spending. and about $400 billion in entitlement cuts. republicans say the president's opening bid is nothing but a political stunt. so where does that leave us? after months of hearing about the fiscal cliff, there are no signs of a compromise plan. let's bring in senior congressiona
. >>> fiscal cliff talks hit a huge road bump. zinger and verbal jabs are flying while actual talks are at a stand still. president barack obama says republicans must agree to preserve a middle class tax cut as the first part of any deal and he likened republicans to scrooge today, while touring a pennsylvania toy factory. >> if congress does nothing, every family in america will see their income taxes automatically go up on january 1st. every family, everybody here, you'll see...
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they have 28 days left to make a deal before the country hits what's called the fiscal cliff. that's a combination of across the board tax increases for everyone, coupled with cuts in spending like defense, education, health care, and housing assistance. let's go live to our chief white house correspondent jessica yellin with the very latest. jessica? >> reporter: president obama has now personally turned down speaker boehner's opening offer to avert the fiscal cliff. he did it in a tv interview. what does president obama think of speaker boehner's proposal to avert the fiscal cliff? >> unfortunately, the speaker's proposal right now is still out of balance. he talks about $800 billion worth of revenues but says he's going to do that by lowering rates. when you look at the math, it doesn't work. >> reporter: he won't agree to eliminate a tax deduction for contributions to charity. >> every hospital and university and nonfor profit agency across the country would find themselves on the verge of collapse. so that's not a realistic option. >> reporter: but the president didn't sa
they have 28 days left to make a deal before the country hits what's called the fiscal cliff. that's a combination of across the board tax increases for everyone, coupled with cuts in spending like defense, education, health care, and housing assistance. let's go live to our chief white house correspondent jessica yellin with the very latest. jessica? >> reporter: president obama has now personally turned down speaker boehner's opening offer to avert the fiscal cliff. he did it in a tv...
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and washington is playing fiscal with the fiscal cliff. -- playing chicken with the fiscal cliff. this deal will only get done by president obama and john boehner making a deal. they came close in the summer of 2011. the parties are so polarized and partisans polarized this is a problem. >> i keep saying we need a presidential historian or hostage negotiator. somebody could say we've been at stalemates before, gotten over it, shut down the government in '96. tip o'neill and ronald reagan managed to solve problems and get along. listen to what john mccain said about what we need here. >> it's time now to sit across the table from one another, rather than -- in the way they did with ronald reagan and the way you get things done in washington. >> the way they did with ronald reagan and get things done in washington. you sit together and figure it out. they were at a holiday party they didn't talk to each other. they're issuing sort of statements and rebuttals and saying i'm not going to budge. >> negotiation by press release. this is not how things get done in washington and part of
and washington is playing fiscal with the fiscal cliff. -- playing chicken with the fiscal cliff. this deal will only get done by president obama and john boehner making a deal. they came close in the summer of 2011. the parties are so polarized and partisans polarized this is a problem. >> i keep saying we need a presidential historian or hostage negotiator. somebody could say we've been at stalemates before, gotten over it, shut down the government in '96. tip o'neill and ronald reagan...
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. >> trying to get two sides come together to come to a deal on the fiscal cliff. >> i don't know about young people's abilities to force cats and dogs and democrats and republicans to come together to find a deal. he had a much more profound message than just simply dancing in that clip, in that psa essentially. he was trying to alert young people to the fact that old people, bluntly, are organized. look at the army of aarp representatives that ensure that programs like medicare and social security, programs that take up something like 50% of our federal budget will remain intact and won't be subjected to the necessary reform to last for young people to ever reach them. the problem is that young people don't think life goes on after the age of 30. if you're on twitter and facebook, that's a long way away. why are you worried about entitlements? >> the funny thing is that president obama is using social media to do the exact same thing. for example, he will visit a virginia middle class family today. they were part of his twitter verse. that's why he chose them. he must think that talki
. >> trying to get two sides come together to come to a deal on the fiscal cliff. >> i don't know about young people's abilities to force cats and dogs and democrats and republicans to come together to find a deal. he had a much more profound message than just simply dancing in that clip, in that psa essentially. he was trying to alert young people to the fact that old people, bluntly, are organized. look at the army of aarp representatives that ensure that programs like medicare...
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so let's do some kind of a deal now and that will keep us from going over the fiscal cliff. then let the tax cuts expire for the wealthy january 1st. it happens. then you can do some kind of negotiation. and that keeps us from going over the fiscal cliff. it's going to happen anyway, right? >> this is the very kind of shell game they run in washington. if you'll just give me my tax increases today, i surely will give you your spending restraint tomorrow. >> but you have no leverage in the debate. >> we never see these spending reductions materialize. that's the problem. we're borrowing roughly 40 cents on the dollar, much of it from the chinese, sending the bill to our children and grandchildren. that's unwise and unsustainable. frankly, i think it's immoral. and what you're saying is that republicans ought to agree, and somehow vote for a big proposed tax increase in hopes that in decade decades to come that this president will do something about spending. >> no, i didn't say that. what i said was why not -- why don't republicans and democrats vote for a tax -- to keep the
so let's do some kind of a deal now and that will keep us from going over the fiscal cliff. then let the tax cuts expire for the wealthy january 1st. it happens. then you can do some kind of negotiation. and that keeps us from going over the fiscal cliff. it's going to happen anyway, right? >> this is the very kind of shell game they run in washington. if you'll just give me my tax increases today, i surely will give you your spending restraint tomorrow. >> but you have no leverage...
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. >>> "out front" next, 27 days away from the fiscal cliff. octagenarians doing gangnam style, no deal, and what syria is planning to do if bashar al assad will do if he uses chemical weapons against his own people? a woman with a 1% survival after contracting a flesh-eating bacteria. she made it. tonight let's go "out front." >>> good evening. i'm erin burnett. out front, gangnam style. this is how one man sees the fiscal cliff. this is allen simpson, as in the simpson in simpson/bowles. ♪ >> yep, that may be the most actions the fiscal cliff saw today. here's the scene on capitol hill here at noon. yep, people leaving, members of congress leaving washington, heading home on a wednesday afternoon. one man standing was the house speaker and he says, i'm not going anywhere. >> i'll be here and i'll be available at any moment to sit down with the president to get serious about solving this problem. >> but, of course, it takes two to tango. where does president obama stand? >> we can probably solve this in about a week. it's not that tough. >>
. >>> "out front" next, 27 days away from the fiscal cliff. octagenarians doing gangnam style, no deal, and what syria is planning to do if bashar al assad will do if he uses chemical weapons against his own people? a woman with a 1% survival after contracting a flesh-eating bacteria. she made it. tonight let's go "out front." >>> good evening. i'm erin burnett. out front, gangnam style. this is how one man sees the fiscal cliff. this is allen simpson, as...
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let's see if we can work out a deal on avoiding the so-called fiscal cliff just ahead. the debate on high stakes -- the political stand-off will continue right here. also, important new research that could impact people that take aspirin. new concern right now about a common coating used on aspirin. stand by, this is information you need to know. with adding a friend... ♪ ♪ ...could end with adding a close friend. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. i have a cold... i took dayquil, but i still have a runny nose. [ male announcer ] truth is, dayquil doesn't work on runny noses. what? [ male announcer ] it doesn't have an antihistamine. really? [ male announcer ] really. alka-seltzer plus cold and cough fights your worst cold symptoms, plus has a fast acting antihistamine to relieve your runny nose. [ sighs ] thank you! [ male announcer ] you're welcome. that's the cold truth! [ male announcer ] alka-seltzer plus. ♪ oh what a relief it is! ♪ [ male announcer ] can't
let's see if we can work out a deal on avoiding the so-called fiscal cliff just ahead. the debate on high stakes -- the political stand-off will continue right here. also, important new research that could impact people that take aspirin. new concern right now about a common coating used on aspirin. stand by, this is information you need to know. with adding a friend... ♪ ♪ ...could end with adding a close friend. ♪ the lexus december to remember sales event is on, offering some of our...
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on the fiscal cliff unless both sides agree to raise rates on the wealthiest. that means raise tax rates for top earners. the reason that this is news is because there's been discussion publicly that perhaps they could find a rev new agreement where it would just involve capping deductions or maybe they could get to revenue just through tax reform, and with this piece of detail from that phone call yesterday, it would seem that the democrats, the president personally, is drawing a line saying those other ways are not enough. his campaign message that the top earners have to pay more, he is sticking to that line many these negotiations. >> jess, do we know how the republicans responded to this red line? >> well, speaker boehner was frustrated, wrovl, and came out with -- in his press conference today basically accusing the president of not leading on the issue. both sides are calling for the white house to come forward with spending cuts first, tell us where you are going to cut spending, before we, the republicans, will say whether we'll go along with you on ta
on the fiscal cliff unless both sides agree to raise rates on the wealthiest. that means raise tax rates for top earners. the reason that this is news is because there's been discussion publicly that perhaps they could find a rev new agreement where it would just involve capping deductions or maybe they could get to revenue just through tax reform, and with this piece of detail from that phone call yesterday, it would seem that the democrats, the president personally, is drawing a line saying...
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fiscal cliff. coming up next, i'll talk with a hard-line conservative and let's ask him if he supports his party's proposal. congressman tom price is standing by. but first, as americans worry about what happens after the first of next year, cnn is giving you free advice about your savings account. >>> here on the help desk, we're talking about putting your money to work. with me this hour are greg olson and carmen wong ulrich. tova had a question about her savings. >> it is earning dreadfully low interest for numerous years. and is there anywhere that i can put my money that it's going to do any better? >> and that's going to be like that for a while with the fed doing its thing, right? >> absolutely. i don't think this is a bad thing. if this is your cash emergency savings that you cannot risk, basically what you're paying is very small opportunity cost. like insurance. so let's say you're earning 1% on your savings, right, inflation is eating away at it a little bit. it is certainly a lot lower
fiscal cliff. coming up next, i'll talk with a hard-line conservative and let's ask him if he supports his party's proposal. congressman tom price is standing by. but first, as americans worry about what happens after the first of next year, cnn is giving you free advice about your savings account. >>> here on the help desk, we're talking about putting your money to work. with me this hour are greg olson and carmen wong ulrich. tova had a question about her savings. >> it is...
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to have to make a deal, are you willing to go over the fiscal cliff or not have changes to medicare and medicaid? >> every single poll i have seen says do not cut social security or medicare and do away with corporate loopholes and ask the wealthy to start paying their fair share of taxes and look at excessive military spending. and, by the way, let's not forget, we have already in the last three years cut approximately $1.5 trillion in programs. this is not a hard, this is not a fiscal debate. this is a political debate, ceos from wall street, big money interest are there to protect their interests. they could care less about working class people and some of us want to defend the middle class. >> if nothing is done by congress, by now and the end of december, everyone's taxes are going to go up. >> that's why we've got to do something and that's why the republicans have to do exactly what we did in the senate which is to say we have to protect the bottom 98% of the american people. no tax increases at all. continue the tax break but the wealthiest 2% will have to help us deal with the
to have to make a deal, are you willing to go over the fiscal cliff or not have changes to medicare and medicaid? >> every single poll i have seen says do not cut social security or medicare and do away with corporate loopholes and ask the wealthy to start paying their fair share of taxes and look at excessive military spending. and, by the way, let's not forget, we have already in the last three years cut approximately $1.5 trillion in programs. this is not a hard, this is not a fiscal...
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dan, we're learning more about the white house plan to deal with the fiscal cliff. break it down for us. >> reporter: right. this is the plan that secretary -- treasury secretary timothy geithner took up to capitol hill yesterday. it calls for $1.6 trillion in tax increases over a ten-year period more than republicans had anticipated. in addition to that, $400 billion in spending cuts that will come later. much of that not really specified. we're looking at entitlements such as medicare. and then the plan also includes $50 billion in stimulus spending. democrats see this really as sort of the opening salvo in these negotiations. early on in this process, both sides appear to show some level of optimism that this would get done. in the last few days and certainly yesterday it just seems like both sides are so far apart, it's not unusual for us to see this kind of posturing and other negotiations, tough negotiations over the last four years or so. you'll see things build up whether it appears that it's going to get done. then they fall apart. in the end it does happen
dan, we're learning more about the white house plan to deal with the fiscal cliff. break it down for us. >> reporter: right. this is the plan that secretary -- treasury secretary timothy geithner took up to capitol hill yesterday. it calls for $1.6 trillion in tax increases over a ten-year period more than republicans had anticipated. in addition to that, $400 billion in spending cuts that will come later. much of that not really specified. we're looking at entitlements such as medicare....